Auburn National Bancorporation

Auburn National Bancorporation, Inc. is a bank holding company. It engages in the provision of banking services to commercial and retail customers. The firm operates through the following segments: Commercial and Industrial, Construction and Land Development, Commercial Real Estate, Residential Real Estate, and Consumer Installment. The Commercial and Industrial segment includes loans to finance business operations, equipment purchases, or other needs for small and medium-sized commercial customers. The Construction and Land Development segment is comprised of both loans and credit lines for the purpose of purchasing, carrying and developing land into commercial developments or residential subdivisions. The Commercial and Industrial segment provides loans disaggregated into three classes: owner occupied, multi-family and other. The Residential Real Estate segment is involved in consumer mortgage and investment property. The Consumer Installment segment encompasses loans to individuals both secured by personal property and unsecured. The company was founded in 1990 and is headquartered in Auburn, AL.

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AUBURN, Ala., Nov. 12, 2024 (GLOBE NEWSWIRE) -- On November 12, 2024, the Board of Directors of Auburn National Bancorporation, Inc. (the “Company”) (Nasdaq: AUBN) declared a fourth quarter $0.27 per share cash dividend, payable December 26, 2024 to shareholders of record as of December 10, 2024.

Auburn National Bancorporation, Inc. Declares Quarterly Dividend

First Quarter 2024 Highlights(1): Net income of $1.4 million, or $0.39 per share Net interest income (tax-equivalent) was $6.7 million, an increase of $0.5 million, or 8% Net interest margin (tax-equivalent) increased 39 basis points to 3.04% Annualized loan growth of 7% Strong credit quality – Nonperforming assets to total assets were 0.09% Period-end deposits increased by $3.4 million to $899.7 million AUBURN, Ala., April 24, 2024 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of $1.4 million, or $0.39 per share, for the first quarter of 2024, compared to a net loss of $(4.0) million, or $(1.14) per share, for the fourth quarter of 2023 and net earnings of $2.0 million, or $0.56 per share, for the first quarter of 2023.

Auburn National Bancorporation, Inc. Reports First Quarter Net Earnings

AUBURN, Ala, March 29, 2024 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (the “Company”) (Nasdaq: AUBN), the parent company of AuburnBank (the “Bank”), announced that Sandra J. Spencer and Michael A. Lawler have been elected effective March 29, 2024 to the Board of Directors for both the Company and the Bank.

Auburn National Bancorporation, Inc. Elects Two New Directors

AUBURN, Ala., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Auburn National Bancorporation (Nasdaq: AUBN) reported a net loss of $4.0 million, or $1.14 per share, for the fourth quarter of 2023. The quarterly loss reflects the sale of $117.6 million of available-for-sale securities for an after-tax loss of $4.7 million or $1.36 per share. Proceeds of $111.3 million from the securities sale were used to repay high-cost wholesale funding and sell high-cost reciprocal deposits, with the remaining amounts held in cash to fund future loan growth, the purchase of higher-yielding securities, and other banking operations. Although this balance sheet repositioning strategy resulted in a loss for the fourth quarter of 2023, it immediately improved the Company's tangible common equity ratio or total equity to total asset ratio due to a smaller balance sheet and is expected to improve the Company's interest rate risk profile and future earnings. The Company estimates the earn-back period for the balance sheet repositioning to be approximately 2.3 years.

Auburn National Bancorporation, Inc. Reports Fourth Quarter and Full Year Results

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Third Quarter 2023 Highlights: Net income of $1.5 million Earnings per share of $0.43 decreased 22% compared to the second quarter Net interest income (tax-equivalent) was $6.4 million, a decrease of $0.5 million compared to the second quarter Net interest margin (tax-equivalent) of 2.73% declined 30 basis points from the second quarter due to increased deposit costs Cost of funds was 142 basis points, 53% higher than the 93 basis points in the second quarter Average loans, net of unearned income, were $529.4 million, a 3% increase from the second quarter Provision for credit losses was $0.1 million, an increase of $0.5 million compared to a negative provision for credit losses of $0.4 million in the second quarter due to the resolution of a nonperforming loan Noninterest expense was $5.4 million, a decrease of $0.4 million compared to second quarter Total loans, net of unearned income, at September 30, 2023 were $545.6 million, up approximately 5% compared to $520.4 million at June 30, 2023 Total deposits at September 30, 2023 were $964.6 million, compared to $950.8 million at June 30, 2023 AUBURN, Ala., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of $1.5 million, or $0.43 per share, for the third quarter of 2023, compared to $1.9 million, or $0.55 per share, for the second quarter of 2023 and $2.0 million, or $0.57 per share, for the third quarter of 2022.

Auburn National Bancorporation, Inc. Reports Third Quarter Net Earnings

Second Quarter 2023 Highlights: Total revenues increased 6% from Q2 2022 Net interest income (tax-equivalent) increased 8% from Q2 2022 Net interest margin (tax-equivalent) was 3.03%, compared to 3.17% in Q1 2023 and 2.60% in Q2 2022 Cost of funds was 93 basis points, compared to 71 basis points in Q1 2023 and 32 basis points in Q2 2022 Average loans were $512.1 million, a 19% increase from Q2 2022 Negative provision for credit losses was $0.4 million compared to none in Q2 2022 Period end total deposits were $950.7 million, compared to $939.2 for Q1 2023, and $950.3 million for Q4 2022 AUBURN, Ala., July 25, 2023 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of $1.9 million, or $0.55 per share, for the second quarter of 2023, compared to $1.8 million, or $0.51 per share, for the second quarter of 2022.

Auburn National Bancorporation, Inc. Reports Second Quarter Net Earnings

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Auburn National Bancorporation, Inc. Reports Record Full Year Net Earnings of $10.3 million, or $2.95 per share and Record Quarterly Net Earnings of $4.5 million, or $1.27 per share

AUBURN, Ala., Nov. 08, 2022 (GLOBE NEWSWIRE) -- On November 8, 2022, the Board of Directors of Auburn National Bancorporation, Inc. (the “Company”) (Nasdaq: AUBN) declared a fourth quarter $0.265 per share cash dividend, payable December 27, 2022 to shareholders of record as of December 9, 2022.

Auburn National Bancorporation, Inc. Declares Quarterly Dividend

Bob Dumas to Remain Chairman and a Director, but Retire on December 31, 2022 as President and CEO David Hedges, EVP and CFO to be named President and CEO effective January 1, 2023 James Walker, SVP and CAO to be named SVP and CFO effective January 1, 2023

Auburn National Bancorporation, Inc. Announces Leadership Succession Plan

AUBURN, Ala., April 12, 2022 (GLOBE NEWSWIRE) -- Auburn National Bancorporation, Inc. (NASDAQ: AUBN) announced today that the Company's Board of Directors has approved a new stock repurchase program to replace the repurchase program that expired on March 31, 2022. The new program authorizes the repurchase, from time to time, of up to $5 million of the Company's issued and outstanding common stock through the earliest of (i) the expenditure of $5 million on Share repurchases, (ii) the termination or replacement of the Repurchase Plan and (iii) April 15, 2024. The stock repurchases may be open-market or private purchases, negotiated transactions, block purchases, and otherwise.

Auburn National Bancorporation Authorizes Stock Repurchase Program

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Auburn National Bancorporation, Inc. Reports Full Year Net Earnings of $8.0 million, or $2.27 per share; Quarterly Net Earnings of $1.9 million, or $0.53 per share

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News for Auburn National Bancorporation Stock (AUBN)